Turkish contractors undertook $7.6B worth of projects abroad in H1

ANKARA

Turkish contractors undertook $7.6 billion worth of projects abroad this January-June, according to an analysis of new Turkish Trade Ministry data.

The Turkish contracting sector has also completed 12,207 projects with a budget of $511 billion in 137 countries over the last 52 years, since 1972, it highlighted.

Despite daunting factors such as global economic problems, the pandemic outbreak, and the Russia-Ukraine war, Turkish contractors last year increased the average project value to $65 million, the report said.

Moreover, the average project value showed remarkable progress and climbed to some $92.3 million this January-June.

In project-based percentages, road investments constituted the largest share with 13.9%, while airport investments represented the smallest share with 6.5%, it emphasized.

Russia ranked first in the distribution of projects by country with a 20% share, worth $102.3 billion, it stressed.

Also, Engineering News-Record magazine's annual list of the world's 250 largest contracting firms for 2023 included 40 Turkish companies.

Türkiye ranked second on the list after China in terms of the number of companies, it added.

*Writing by Sahika Olgun from Istanbul